Sign of the Financial Industry Regulatory Authority

Sign of the Financial Industry Regulatory Authority

Nina Sue Jessee (also known as Nina Campbell Jessee) of Abington Virginia a stockbroker formerly employed by Cetera Advisors LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Jessee neglected to comply with FINRA during its investigation into accusations of (1) Jessee being subject of customer complaints concerning alternative investment sales and (2) Jessee having engaged in an unapproved outside business activity. Letter of Acceptance Waiver and Consent No. 2018057366301 (June 11, 2019).

According to the AWC, in 2018, an investigation was launched by FINRA into allegations of Jessee’s possibly unsuitable alternative investment sales and engagement in undisclosed outside business activities. On December 11, 2018, Jessee was instructed by FINRA to provide recorded testimony to FINRA personnel so the regulator could further investigate Jessee’s activities. Jessee was required under Rule 8210 to cooperate by making an appearance on January 3, 2019. Yet, FINRA was provided notice from Jessee’s counsel indicating Jessee would not be testifying for FINRA at any point.

The AWC stated that on February 5, 2019, a second request had been made by FINRA calling for Jessee to provide recorded testimony in reference to the accusations against her. The AWC stated that Jessee was expected to make an appearance on February 28, 2019. Like before, FINRA was made aware from Jessee’s counsel that Jessee would not be attending. FINRA ultimately found Jessee’s failure to testify to be violative of FINRA Rules 2010 and 8210. As a result, Jessee was barred from the securities industry.

FINRA Public Disclosure confirms that Jessee has been identified in twenty three additional customer initiated investment related disputes containing allegations of her violative conduct while employed with Investors Capital Corp. In particular, on June 15, 2018, a customer filed an investment related complaint concerning Jessee’s activities where the customer requested damages estimated to exceed $5,000.00 supported by accusations that the customers suffered poor performance on their real estate holdings and had been placed into investments which were not appropriate for them.

Subsequently, a customer initiated investment related arbitration claim involving Jessee’s activities was resolved for $95,000.00 in damages founded on allegations against Jessee of overconcentrating the customer’s assets in real estate security and direct investments; and making misrepresentations to the customer concerning the terms, conditions or risks of those investments. FINRA Arbitration No. 18-00115 (Nov. 6, 2018).

Thereafter, a customer initiated investment related arbitration claim concerning Jessee’s conduct was settled for $150,000.00 in damages based upon accusations that the customers were sold real estate security products that were in no way suitable for the customer which caused the customer to incur unwarranted losses. FINRA Arbitration No. 18-00630 (Nov. 15, 2018). On February 13, 2019, another customer initiated investment related complaint regarding Jessee’s activities was resolved for $20,000.00 in damages supported by allegations that the customers suffered unwarranted losses or poor performance on speculative investments held in their investment portfolio.

Another customer initiated investment related arbitration claim regarding Jessee’s conduct was settled for $17,500.00 in damages founded on accusations that real estate security transactions executed in the customer’s account failed to be suitable for the customer. FINRA Arbitration No. 19-00397 (Apr. 29, 2019).

Jessee’s registration with Cetera Advisors LLC was terminated on November 10, 2017 based upon allegations that Jessee neglected to inform the firm about outside business activities prior to her participating in them; conduct violative of the firm’s supervisory policies.